Streetbeat News

Equity Actions

ARKF

HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) stock has risen over 12% in the past five days. Ark Fintech Innovation ETF (NYSE:ARKF) purchased 143,063 shares of HOOD, valued at $1.2 million. Morgan Stanley analyst Michael Cyprys maintained an Equal-Weight rating on HOOD but lowered the price target from $12 to $11. HOOD's trading volume exceeded its 100-day average, and the stock is trading below its 50-day moving average and 52-week high.

Portfolio Pulse from Erica Kollmann

November 29, 2023 | 5:42 pm

PAYX

Paychex (NYSE:PAYX) has seen a rise in short interest, now at 9.94 million shares or 3.08% of float, taking an average of 5.18 days to cover. This increase may indicate bearish market sentiment, but Paychex has less short interest compared to its peers' average of 5.95%. Short interest is a key indicator of market sentiment and can sometimes be bullish for a stock.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 5:30 pm

FCX

Freeport-McMoRan (NYSE:FCX) has seen a 3.33% increase in short interest since the last report, with 17.69 million shares sold short, representing 1.24% of available shares. The short interest is below the peer group average of 4.07%. An increase in short interest can indicate bearish market sentiment but can also be a bullish sign as explained by Benzinga Money.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 5:30 pm

SEEL

Seelos Therapeutics' stock trades lower following the announcement of a public offering priced at $1.32 per share, aiming to raise $5.55 million through the sale of 1,781,934 shares.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:28 pm

CENN

Cenntro Electric Group Limited (NASDAQ:CENN) announced a 1-for-10 reverse stock split to comply with Nasdaq's minimum bid price requirement. The split is set for December 1, 2023, to meet the December 18 deadline. This action will reduce the number of outstanding shares from about 304.4 million to approximately 30.4 million. The split will not change stockholders' percentage ownership, except for adjustments due to fractional shares, which will be rounded up to whole shares. The par value remains unchanged, and all derivatives will be adjusted accordingly.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:27 pm

TGL

Treasure Global shares are trading lower following the announcement of a $4 million underwritten public offering, which typically dilutes existing shareholders and can put downward pressure on the stock price.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:23 pm

VRT

Vertiv Holdings Co (NYSE:VRT) has raised its FY23 guidance due to strong demand for its digital infrastructure products and services. The company increased its net sales guidance, organic net sales growth, and adjusted EPS. Additionally, Vertiv announced a $3 billion share repurchase program and an increase in its annual cash dividend for 2023. Despite the positive news, VRT shares are trading lower by 1.517% at $41.61.

Portfolio Pulse from Shivani Kumaresan

November 29, 2023 | 5:12 pm

AMZN

MSFT

Amazon has introduced its new AI chip, Trainium2, challenging Microsoft's recent introduction of its own AI chip, Maia. Despite this competition, Microsoft's stock (MSFT) has seen significant growth, up 57% year-to-date and over 900% in the past decade. The stock closed at $382.70, up by 1.10% after the closing bell on November 28.

Portfolio Pulse from Zaheer Anwari

November 29, 2023 | 5:09 pm

GM

General Motors Co (GM) has reinstated its 2023 guidance and announced a $10 billion accelerated share repurchase program, with immediate retirement of $6.8 billion worth of stock. CEO Mary Barra expressed confidence in overcoming past challenges, including labor strikes and execution issues with Ultium and Cruise. The company expects adjusted earnings of $7.20 to $7.70 per share and adjusted automotive free cash flow of $10.5 to $11.5 billion. GM also plans to increase its dividend by 33%. GM shares rose 8.8% following the news.

Portfolio Pulse from Adam Eckert

November 29, 2023 | 4:34 pm

GD

General Dynamics Inc. (NYSE:GD) has seen a slight decrease in its share price in the current market session, with a 0.37% drop to $244.31. Despite a minor increase over the past month, the stock has decreased by 3.16% over the past year. Investors are examining the company's P/E ratio, which is lower than the Aerospace & Defense industry average, suggesting that the stock might be undervalued or that shareholders have low growth expectations. The P/E ratio is a critical metric but should be used alongside other financial analyses for investment decisions.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 4:30 pm